A dozen companies, including state-run Bharat Heavy Electricals Ltd (Bhel) and the Indian entity of Korean automaker Kia Motors, will be excluded from the production-linked incentive (PLI) scheme for automobiles and auto components, two people aware of the matter said, since these companies have made no investments under the scheme since it was launched in 2021.
Some of these companies including Kia India Pvt. Ltd have themselves shown their intent to relinquish benefits under the scheme as their initial plans for manufacturing under the scheme have not taken concrete shape, the persons said on the condition of anonymity.
While Kia was enlisted as a so-called champion OEM (original equipment manufacturer), Bhel was recognized as a component champion as a new non-automotive investor for components.
This story is from the December 23, 2024 edition of Hindustan Times.
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This story is from the December 23, 2024 edition of Hindustan Times.
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